#EUPrivacyCoinBan The European Union has finalized a decision to ban privacy coins and anonymous cryptocurrency wallets by July 1, 2027, as part of its Anti-Money Laundering Regulation (AMLR). This move aims to strengthen financial transparency and combat illicit activities.

*Key Aspects of the Ban:*

- *Privacy Coins Affected:* Popular tokens like Monero (XMR), Zcash (ZEC), and Dash (DASH) will no longer be supported by exchanges due to their ability to obscure transaction details.

- *Anonymous Accounts:* Crypto service providers, exchanges, and financial institutions will be prohibited from offering services that don't collect customer identification.

- *Transaction Monitoring:* Identity verification will be required for crypto transfers exceeding €1,000, aligning crypto transactions with traditional banking standards.